Receive the latest local updates in your inbox

The chef behind fine-dining hot spot Alinea, which repeatedly has ranked among the best restaurants in the world, signed a lease on the former location of Ing restaurant on West Fulton Market, Crain's Chicago Business reports.

Bite Me: Niu B's Lamb Chop Robata Skewers

Achatz signed the lease with business partner Nick Kokonas. The two own next-door restaurant Next and cocktail lounge Aviary.

Three Chicago Restos Make 2012 Zagat List

Formal plans for the space haven't been announced, but Achatz told Eater there could be a restaurant in the new space by early next year.

He said they have a "very clear but evolving vision" of the restaurant's concept.

This year, for the third year in a row, Elite Traveler awarded Chicago's Alinea the top slot in its list of the best 100 restaurants in the world.

The same month, Restaurant magazine ranked the restaurant No. 9 in its list of the world's top 50 best. Only seven U.S. restaurants made the list, with one other cracking the top 10.

Published at 12:08 PM CDT on Jun 25, 2014

News breaks at inconvenient times. Download one of the NBCChicago mobile apps and have the news come to you. Watch live streaming newscasts, receive critical push notifications on the go and stay in touch with your city around the clock.